Healthcare Some Lynn Retirees Hit With 37% Insurance Increase Main Menu
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| Some Lynn Retirees Hit With 37% Insurance Increase |
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SEPTEMBER 2001
- Association member Joan Russell, a retired Lynn teacher, said that
she was “shocked” when she received her June pension check that was
almost $80.00 less than usual. Joan and her husband Bill are both under
age 65 and are not eligible for Medicare/Medex and, living out of
state, cannot belong to a Mass HMO. Lynn retirees carrying the Blue Cross Master Medical family plan, the plan to which the Russells belong, have been hit with a whopping 37% premium increase. A family plan costing $215.15 monthly increased to $294.67 this July. Strangely, an individual Master Medical plan increased only 2.92% from $115.17 to $118.53 monthly. All rates include $5,000 life insurance for retirees. Medex rates, which are individual only, increased from $40.80 to $53.01, or 29.93%. Medex is by far the most popular choice for retirees over age 65 and eligible for Medicare. However, for retirees over 65 and not Medicare eligible, Master Medical or an HMO are the only options. Lynn officials say that the city is self-insured and, therefore, were required to increase the rates due to a $3 million shortfall last year. While HMO rates also increased - Harvard family 22%, Harvard individual 18% - they are still less-costly than Master Medical. But, many retirees live out of the HMO service area and Master Medical is their only option. The city pays 75% of the insurance cost for retirees, but only 50% for survivors. A survivor holding the Master Medical family plan now pays $586.53 monthly or $234.27 for an individual plan. |
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